At that point, I draw in a sliding parallel, a line that carries the same slope as the lower median line but is drawn off the extreme low made below the lower median line parallel. This line should now contain any price pullbacks if price is now in an up trend.

Here's a closer look at the same chart so you can clearly see the price action as it breaks below the lower median line parallel and then closes back above it. You can see that as price breaks above swing highs, I add in the sliding parallel.

When price comes back down to test the sliding parallel below the lower median line parallel, I initiate a long euro FX position at 1.2538, with a stop 15-ticks below the prior swing low, at 1.2488. I believe this has all the makings of a long-term up trend that could take months to unfold. The key is to find an area that allows me to hide my initial stop loss order underneath a market formation, where buyers are likely to come into the market. These new buyers should act as a buffer, protecting my stop loss order from being filled unless I am truly wrong about the direction of this market.